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20121129
20121207
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CNBC 20
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Search Results 0 to 49 of about 51 (some duplicates have been removed)
CNBC
Nov 29, 2012 1:00pm EST
balance, interest rates were zero, the effect of the fiscal cliff is getting much worse than if the fed were not at zero. >> because they could do something. >> the only positive thing which dudley did not talk about but it is something that's on the radar is that, as the fiscal cliff fears rise, interest rates fall on the 10-year. so the effect the fed would have from easing is already in -- already happening as a market reaction. >> steve, thank you. >>> when jeff kilburg is not fired up about the irish he is fired up about what mr. dudley said today. why? >> absolutely. he came out with very dovish comments. he lass a permanent vote and he is quite the confidant of ben bernanke. so he flat-out gave a wink-wink, there's something big coming in less than two weeks. >> he's been a dove for a long time though. no change but just to hear it articulated gives you some sense of -- >> it does. this could be a one-two punch. if the fomc comes out with additional measures, subsequent week later, all of a sudden they have the fiscal cliff resolution, bam, we could see a test of the 1,460 of the
MSNBC
Nov 30, 2012 8:00am PST
as the president's in this respect. rough the biggest aspects of the fiscal cliff is the fact that tax rates are going to go up on all americans. the senate has passed a bill that would give the middle class 98% of the people their tax cut. it is done. it's in a package. it's sitting at our desk. and all that has to happen is for the house to take it up. the only reason they're not taking it up is they want millionaires and billionaires to get their taxes cut, too. and this was a big issue in the campaign, thomas. so why don't we, instead of throwing insults, why don't they just pick up and pass that part as their own republican, tom cole suggested, let's have some good faith here, and we'll hammer out the rest of it. >> so senator, one thing you say about show me the money, if we talk about the lack of structural changes that are out there for entitlements, nbc's first read makes that point about that saying that the white house is sending the message that if republicans want entitlement reform, they're the ones who have to propose it. so is the white house forcing republicans basically to
MSNBC
Dec 6, 2012 10:00am EST
people who call me, they're more worried about the fiscal cliff than about rates going up a couple of points. thomas rooney in your party, if there is truly entitlement reforms that's going to preserve social security and medicare for generations to come, it's going to be very difficult for me to oppose higher rates for the rich. what about that? >> and to mr. rooney's point, if in fact there were fundamental, significant reform of medicare, medicaid and social security so that we in fact save and strengthen and secure those programs, just like we did in our budget,those were included in the president's proposal, then that's something that we would talk about and very seriously consider because there's where we got to get. we got to get real solutions. the problem with the president's proposal is it's not a real solution, it's all politics. >> congressman tom price, thank you for coming on the program. >> we've been talking about the president's advantage right now. so, karl rove was not about to sit on the sidelines. his crossroads gps is running a spot today criticizing the presi
CNBC
Dec 5, 2012 3:00pm EST
let our economy go over the fiscal cliff if a deal on higher tax rates for the wealthy is not reached? we're checking it out. back in a moment. [ male announcer ] research suggests cell health plays a key role throughout our lives. one a day men's 50+ is a complete multivitamin designed for men's health concerns as we age. it has 7 antioxidants to support cell health. one a day men's 50+. it's easy to follow the progress you're making toward all your financial goals. a quick glance, and you can see if you're on track. when the conversation turns to knowing where you stand, turn to us. wells fargo advisors. >>> welcome back. this very public negotiation on the fiscal cliff still does not seem to be closing in on a deal. the white house out in campaign style events regularly, making multiple media appearances, kle including timothy geithner right here in 25 minutes. >> but would things be done faster if it was done privately? in his latest column, jeff goldfor a compares u.s. budget talks to merger proxy battles. jeff joins us to explain about that. plus, we have bob from jones day who
CNN
Nov 30, 2012 2:00am PST
in the fiscal cliff debate. tax rates spike and spending slashed. congress is breaking for the holidays in two weeks. it could send the economy spinning in directions. $1.6 trillion in tax hikes. he will travel to pennsylvania to sell it to you. republicans aren't buying it. listen to house speaker, john boehner. >> despite the claims the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. >> democrats are firing right back at boehner. harry reid getting a little personal. >> i don't understand his brain, so you should ask him. okay? >> ouch. athena jones live from washington. same old same old. where do we go from here? >> that's the big question. the nice talk after the election is pretty much gone away. you mentioned one of the big sticking points, that's taxes. republicans and democrats can't agree on how to raise the tax revenue? end the bush tax cuts for the wealthy, close the loopholes, raise the capital gains taxes or all of the above. right now, they can't agree on how much money should be raised on the revenue side. let's listen to
CNN
Dec 3, 2012 4:00pm PST
's just silly now. you've got to be for a tax rate increase or we will go over this fiscal cliff. >> no, you don't. you could raise from a carbon tax of $20 a ton, which will deal with, we are having the biggest record carbon levels. you could raise -- at 4% a year over the next ten year, twice as much as you could from allowing the bush tax rates to lapse. why the income tax system is overburdened in the united states. we use it too much. we should be looking at other taxes. we can't do it in 29 days. why are we doing it in 29 days? >> but the president ran on raises taxes, right? if you look at the polls. 60% of people support raising taxes on people who make over $250,000 a year. how much of a problem is it, david, if the republicans you know, tom coburn said he does not want to raise that tax number. >> the president ran on his first term on opposing a health care mandate. presidents change their minds. the idea that you would do a revenue measure with an eye to basically doing something punitive, when there are much more important policy goals you can achieve and when it's not goin
CNBC
Dec 4, 2012 1:00pm EST
over the fiscal cliff and also because the marginal tax rates are going to automatically increase, which means any lower tax rates president obama will ask for is tax cuts and not an argument you are raising taxes on someone. for all those reasons, the democrats have a lot of leverage in january but that does not mean the democrats should wait till january, what happens after december 31st is everybody can lose. the kind of pressure we have psychologically and politically right now to get a deal done before we hit 2013, that kind of pressure and deadline pressure and momentum you're not going to have after you're over the fiscal cliff. so every day that goes by after january 1st isn't going to look like that big of a deal and essentially, time will run out for both parties, you will have a lot of problems in 2013, they will take the lion's share away from fiscal dealmaking, senate confirmation, have the debt ceiling, the long-delayed nuclear negotiableses with iran, going to have posturing for the 2014 campaigns. all of those things are going to suck out the moment up that we have
MSNBC
Dec 5, 2012 8:00pm PST
to that, is the administration prepared to go over the fiscal cliff. >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthy -- remember, it's only 2%. >> so the white house is >> now we need a response from the white house. we can't sit here and negotiate with ourselves. >> house republican leader eric cantor also seemed to forget that the white house presented a specific plan in these negotiations. >> where are the specifics? where are the discussions? nothing is going on. meanwhile, the people of this country are the ones that suffer. so we ask the president, sit down with us, be serious about the specifics of spending so we can stop the wasteful spending in washington and finally address the problem. >> john boehner appears to have the same form of anesthesia mitt romney was suffering from on the campaign trail. he tells supporters, if our offer is not acceptable to the president, then he has an obligation to show leadership by presenting a credible plan of his own that can pass both houses of congress.
CNN
Dec 1, 2012 3:00pm PST
that they're serious on negotiations. >> reporter: as the country fast approaches the fiscal cliff, the two sides are talking past each other. democrats say they've laid down their marker, hiking tax rates on wealthier americans. and it's up to republicans to propose specific spending cuts they want to entitlement programs. however, republicans say they've offered a concession, putting revenue on the table. and they say it's now up to the president and his fellow democrats to feel some pain and proposed cuts in medicare and medicaid. confusing? we asked harry reid. >> where is the disconnect? >> i don't understand his brain. so you should ask him, okay? >> from capitol hill to the white house, democrats are standing firm, saying the major hurdle remains whether to raise tax rates. what's next? where do things go? the top republican aide tells me they look forward to talking to the white house. >> time is still running out, too. >> and quickly. >> with us now are ryan lizza, the new yorker magazine's washington correspondent and cnn's senior political analyst ron bram's team. thank you both
CNBC
Dec 5, 2012 4:00pm EST
the fiscal cliff? >> oh, absolutely. again, there's no prospect in an agreement that doesn't involve the rates going up on the top 2% of the wealthiest. all those americans get a tax cut under the framework under the first $250,000 of their income. in some sense, it's a tax cut for all americans. it's just for people who make more than that, we're going to ask them to pay a modestly amount more. >> that's hard to understand given how much going over the fiscal cliff would hurt the economy. why is going over the fiscal cliff worth it for just this one component? if you can get the other components, why wouldn't you take that? >> good question. thanks for asking. what we're trying to do is put in place a comprehensive balance set of fiscal reforms that put us back on the path to living within our means and create room for investing to make the economy stronger, make sure we're protecting medicare for future generations, and forcing the government to use the taxpayers' resources more wisely. in that context, you have to have a significant amount of revenues. we don't see a way of doing
CNBC
Dec 4, 2012 9:00am EST
. the reason? the fiscal cliff. if we go off the cliff, tax rates and dividends could more than triple or nearly triple from 15% to 43.4%. companies are racing to beat that tax hike by paying dividends before december 31st. arison is getting a potential tax savings up to $25 million. and larry ellison is getting savings of $56 million. tom frist will get more than $350 million from the company's dividend saving potential $100 million. and bain capital will get a piece of that and king of dividends is sheldon adelson. his tax savings on the dividend alone could be more than $340 million. all shareholders benefit from dividends and many of the ceos and owners recuse themselves from the dividend votes but these companies tend to have higher insider ownership. average inside ownership for dividend payers is around 27%. the average for the market as a whole around 7%. it all shows that if you can take next year's income today, you can also beat the tax man. simon? >> i mean, the question remains the degree to which you are harming the businesses by forcing cash out of them now. there are co
CNBC
Dec 6, 2012 6:00am EST
on what's happening with the fiscal cliff out of washington, the bank of england leaving its interest rate unchanged. at this point we're a few weeks away from the end of the year. money managers have an uncanny ability to drive stocks higher allowing them to claim quarterly performances that attract more money and higher fees. the practice is illegal but experts say that a sudden spike is a deliberate distortion of prices. as you'd expect window dressing is more common with thinly traded stocks and among the names of stocks appear to have been used as window companies, iridex, carver bancorps, altagen and legaga holdings. the next day the stock gives back some percentage of the gains, at least 3%. >>> the parade of companies announcing dividend changes continues because of all the uncertainty surrounding the fiscal cliff. cme group declared an annual variable dividend of $1.30 a share and accelerating the timing into the current quarter.'s sporting goods is announcing a cash dividend of $2 a share and says cfo tim coleman is retiring. >>> zynga -- i like to say that, zynga is filing prepa
CNN
Dec 6, 2012 6:00am PST
will push back on president obama's demand for tax hikes on the rich when it comes to the fiscal cliff. but treasury secretary timothy geithner says the white house will not give in. >> no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. remember it's only 2%. >> geithner adds the obama administration is, quote, absolutely prepared to go off the cliff, if necessary. joining me now is van jones, cnn contributor and former obama administration official. good morning. >> god morning to you. >> so, van, i guess my first question that's eatsy for geithner to say, we're perfectly willing to go off the fiscal cliff. that means a tax hike on middle class americans and maybe some of them are thinking this morning i'm not really so happy geithner said that. >> it might have been inartful for him to say it the way he said it. i think he is making a very important point, which is that the american people did vote. they voted for the one thing the president said very clearly, which is that tax rates would go up on the wealthiest. it's an
MSNBC
Dec 5, 2012 11:00am PST
with the fiscal cliff and there's hot rhetoric to go around. >> our members believe strongly that raising tax rates will hurt the economy. closing loopholes, especially on those who are wealthy, is a better way to raise this revenue. >> in order for us to raise the amount of revenue that's needed just by closing deductions and loopholes for high earners we'd have to, for example, eliminate or severely cap the char itible deduction. >> an obsession to raise taxes not going to solve the problem. what will solve the problem is doing something about the entitlements, taking on the wasteful spending in washington. >> and meantime, "the new york times" jonathan wiseman reports behind the scene republican leaders are considering the president's plan to extend middle class tax cuts now an address the debt and spending in the new year. here's republican senator tom coburn on "morning joe." >> actually, i would rather see the rates go up than the other way and greater chance to broaden the base in the future. >> do something, a down payment on cuts, on investments and revenue this year. and then in the
CNBC
Nov 29, 2012 12:00pm EST
-class families from the fiscal cliff that they're facing by freezing the tax rates for the first $250,000 of all americans' income. letting the rates go up to the same level they were during the clinton administration. republicans know where we stand. we've said it. we've said it. we've said it so many times. the president said the same thing. it's been weeks, at least two weeks, since we met at the white house. we're still waiting for a serious offer from the republicans. really, now is the time for the republicans to move past this happy talk about revenues, ill-defined, of course, and put specifics on the table. the president has made his proposal. we need a proposal from them. i'm glad to see there are some reasonable republicans breaking from the pack. veteran representative cole and a new member, scott from south carolina, have said basically the same thing. and that is, they should bring to the floor of the house the bill that's passed over here. it would pass overwhelmingly, as scott said in the press today. our bill would pass in a matter of minutes if the house republicans simply allow
MSNBC
Dec 5, 2012 8:00am PST
and others to avoid the fiscal cliff between now and december 31st but take what we agree on which is that the middle class tax cuts should be extended and tax rates should not go up for the middle class, let's do that now. the republicans refuse to do that thus far, which is sort of baffling. even some of their senior members like tom cole from oklahoma have said let's take that deal, but let's pass the tax cuts for the middle class and we're talking about making sure that tax rates for 98% of all americans and 97% of all businesses. it's a small percentage of individuals that make more than $250,000 a year that tax rates would go up just a little bit. we had an election, thomas, where americans had a clear choice and they chose and we need to make sure that we think a balanced approach that is fair, that doesn't throw the middle class under the bus and that works mathematically. so far what we've seen from republicans in the house does not work in terms of reducing the deficit. >> congresswoman, we are watching the president on our screen at the business roundtable. there was an
CNBC
Dec 6, 2012 9:00am EST
over the fiscal cliff, what do you have to lose, the rates are going to go up. i don't think it makes any difference two tim geithner says. >> it is so widely held by so many who want to play the stock market, let's say, beyond just the capital gains, whether it's in taxable account organization not and it also has the psychological impact that this is the one that i'm going to get out of because i'm afraid of what's coming in general? >> this is the stock, yes, it's cheap, now once it goes down, we have a million reasons, well, it's a nokia phone, well, it's china. ipad miniis available. this is a stock that's so widely owned. it reminds me of sirius satellite. every doctor, every dentist owns apple. they don't know the price per share, they just know it is the proxy for the market. >> they just accelerated dividends. but i think we're talking now 150 companies in some fashion have accelerated or put forward a special dividend. you put forward a special market share, china is 76, with the market share at least. >> is it a disappointment that apple did not pay a special dividend? is t
MSNBC
Dec 6, 2012 6:00am PST
, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. again, there is no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. >> and that is the important phrase there, prepared to go off the cliff if there is no agreement on raising those rates. we're going to get to that in a minute. utah republican senator orrin hatch fired back and said, quote this, is one of the most stunning and irresponsible statements i've heard in some time. the american people want us to find a reasonable path forward not to rattle our sabers and play this dangerous game. of course, both sides are playing games. they are rattling their sabers. house members streamed out of the capitol and headed out of town wednesday after canceling today's session. they insist nothing will get done until the president makes a counteroffer to what they say is their full fledged proposal for monday. >> the revenues we're putting on the table are going to come from, guess who? the rich. there are ways to limit deductions, close loopholes, and have the same peop
CNBC
Dec 4, 2012 6:00am EST
year's fourth quarter. the reason? the fiscal cliff. if we go off the cliff tax rates on dividends could go from 15% to more than 43%. companies are racing to beat the tax hikes by paying dividends before december 31st and some of the biggest beneficiaries, both insiders and ceos. mickey arison is getting $89 million from carnival giving him a potential tax savings. and larry elison is getting savings around $56 million. thomas frist at hca is getting around $350 million, saving him $100 million. and kkr and bain capital will get a big piece of the dividends. the king of all dividends is sheldon adelson who gets $1.2 billion from sands corp dividend and his tax savings alone could be $340 million. all shareholders benefit from dividends and many of the owners and ceos have recused themselves from the dividend votes, but these companies tend to have higher insider ownership. the average insider ownership of these dividenders is around 27%. it all shows that just the threat of higher taxes is causing companies and people to take next year's income today when they can. >> yeah. it's i
CNN
Dec 6, 2012 2:00am PST
of coffee this morning. starbucks ceo has sobering advice to offer on the looming fiscal cliff, that the consequences will be far worse than last year's debt ceiling fight when the u.s. credit rating was downgraded for the first time ever. his message to lawmakers, now is not the time to play politics. it's about doing right by the american people. >> i think if people would get in the room and leave their ego behind, and not be so skewed towards the party but be so sensitive to the lens of the american people, we will have an agreement. >> poppy harlow is joining us with more. we've been talking about how this will affect us. schultz says this goes way beyond our boarders. >> it's global. something that stuck with me talking to him about this, the people who need a deal most will be hurt the most. here's why. >> this single issue has a seismic affect on the rest of the world, that we have never been as connected and the domino effect of a bad outcome here will have significant negative consequences, domestically and around the world, not the least of which will be the level --
CNN
Dec 5, 2012 4:00am PST
american. >> senator rubio weighing in on the fiscal cliff debate and the idea of raising tax rates for the wealthy saying we need to make poor people richer, not rich people poorer. soledad. >> that's the kind of thinking that will get you votes, right? >> all right. thanks, zoraida. >> new york city police could be close to charging a suspect in that fatal subway push. they say a man is now being questioned and has implicated himself in this case. a front page "new york post" photo has become the source of a lot of controversy. it shows the victim desperately trying to climb up from the tracks as the train approaches. this morning we're hearing that the photographer has said some things in his own defense. cnn's mary snow has more on this report. >> [ bleep ] alone. take your [ bleep ] over there. >> reporter: why exactly these men were fighting is unclear. but moments after this video obtained by the new york police was record 58-year-old ki-suck han whose face is obscured, was pushed on to the tracks, police say, by the man yelling at him. subway barreling through the station ki
CNBC
Nov 30, 2012 6:00am EST
dramatically higher interest rates because if they don't do a good deal for fiscal cliff and keep spending money, it's entirely possible this is going to be our come up -- >> the fed isn't big enough -- i thought i could count on rates below next year. >> i think demand is good. there will be a bit of inflation. people will be surprised. they ought to go get a mortgage now. they should be buying something now before that part of the economy heats up. housing stays strong. >> not europe. >> not europe. not asia. >> everyone is thinking about fiscal cliff. i have to go with i'm so worried about how many promises we've made in terms of $87 trillion of stuff we're not going to be able to afford and i am afraid we never, ever come to grips with it. >> that's why i think inflation is going to be an issue, joe, for exactly what you just said. kick the can does not last at 3% interest rates. it doesn't last. >> liesman is here. what's your -- he said if the jobless rate stays high is the biggest threat to 2013. why would the economy be bad? >> i'm worried about the long-term effect of joblessness
CNN
Nov 28, 2012 4:00pm PST
the economy's actually expanding, but they're still really worried about, you know, the fiscal cliff. >>> and now our fourth story "outfront" for the second day in a row, susan rice met with republican senators, some of whom obviously have harshly criticized her for ther handlin of the attack in benghazi. the moderate susan collins spoke to us. >> i continue to be troubled by the fact that the u.n. ambassador decided to play what was essentially a political role at the height of a contentious presidential election campaign. >> yet the president continues to stand by susan rice. >> susan rice is extraordinary. couldn't be prouder of the job that she's done at the u.n. >> all right, tim, when you hear senator collins, you know, she is influential, she is moderate, come out and say look, i'm not satisfied, sort of turning her back on susan rice, she had the moment in front of the microphone to endorse, she did not. should the administration cut its losses and say this might not be the right nominee. >> not at all. i think the president won the ele electi election. respect to suzanne col
MSNBC
Dec 3, 2012 3:00am PST
sorry, no way are we going to raise rates on the wealthy, you guys are willing to go off the fiscal cliff? >> if republicans are not willing to let rates go back up, and we think they should go back to the clinton levels, a time when the american economy is doing exceptionally well, then there will not be an agreement. >> but house speaker john bigger is digging in himself, admitting talks are going nowhere. speaker boehner also described the moment when secretary geithner first showed him the president's opening offer. >> i was just flabbergasted. i looked at him and said, "you can't be serious." i've just never seen anything like it. you know, we've got seven weeks between election day and the end of the year. and three of those weeks have been wasted with this nonsense. right now i would say we're nowhere, period. we're nowhere. we've put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually nothing. they've actually asked for more revenue than they've been asking for the whole entire time.
CNBC
Nov 29, 2012 3:00pm EST
of the fiscal cliff. >> craig, you're the patient value investor. are you standing aside, waiting for this to resolve itself? >> you know, we use the volatility, the fiscal cliff to buy great businesses that are on sale. you know, the fact remains that the stocks are extremely underowned like i've never seen. i saw the other day, in 2006 pensions and endowments had about 60% of their enveinvestme in equities. that's down to under 35% in most cases. you also had four years of the much yul fund li mutual fund liquidations. i don't think the market is at great risk here. stay with domestic companies. stay with companies that have real high barriers of entry that are kpacheap. if you get caught up in the day to day news flow, you can get whipped in and out. the fiscal cliff will be resolved, whether it's two weeks or a month and a half. the market will move around, but long term it looks good. >> the question s how will it be resolved? jeff cox, already we are seeing a movement on the part of investors to say, if i'm sitting on a position where i've made money, i'm going to sell now g
CNBC
Dec 5, 2012 9:00am EST
investment bank should do is solve financial problems for people. with things like the fiscal cliff coming up and a radical change in tax rates and possible future growth rates, i just think there are going to be lots of decisions that need to be made. lots of interesting decisions that aren't just m&a. corporate boards need advice on that. i'm optimistic it will be a decent year. >> we hope to visit you during that year. thank you. >> back to you, melissa. >>> news for investors out there. let's send it to mary thompson for a market flash. >> cnbc obtaining a notice that the company is raising margin requirements for apple to 60% from 30% effective at midnight tonight. one thing we want to note is cnbc has spoken to other people on the equity desk. they say they are not planning to follow the raise of margin on requirements for apple. we want to note that core clearing will issue a statement on this later. back to you. >> all right. thank you very much, mary thompson. still ahead, live coverage of president obama's remarks on the fiscal cliff before the business roundtable. can the president
CNBC
Dec 4, 2012 4:00pm EST
for an interview you'll only see on this network. see what he thinks about the fiscal cliff. >>> later on in the program, with the rush to sell high-end homes to take advantage of this year's lower tax rates, is it a good time now to snap them up? our wealth editor robert frank. plus, our real estate correspondent will tell you what you need to know back half of the show. don't miss it. >>> and here's a lye shot of the street outside the new york stock exchange. christmas tree is right behind the band there. they are ready for the tree lighting ceremony. expect it to take place about an hour from now. we'll take you there live. back in a moment. obligations. obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includ
CNBC
Dec 3, 2012 6:00am EST
put the chance of going over the fiscal cliff? >> i think the odds are somewhere in the neighborhood of about 15 ch about 15% to 20% that we go over. but my hope is that we don't. >> what happens to the market if we go over? >> i think we are going over, first of all. and i don't really think that we can get a good solution unless the markets force the issue. so one way or another, i think we have a near term correction. it either comes before the end of the year and forces the politicians to compromise now, or the beginning of next year and forces them after -- >> when does the bond market notice? i don't even care about the stock market. >> if you think you're going over the cliff, about the only hedge out there is like 30 year zeros. because think about what will happen. you'll slow the economy. they'll go to rates you couldn't believe if we really go over full bore. if we go right over with no solution at all -- >> what happens if we get a long term solution to all our problems? >> the thing you have to be scared of with rates is the thing you always have to be scared of, the eco
CNN
Dec 5, 2012 2:00am PST
ahead, a growing core russ on both sides who insist there's no reason to fear going over the fiscal cliff y if if the cliff exists at all. call them cliff deniers. leading directly to the loss of america's aaa credit rating. listening to them again would be the definition of insanity. john who has a ph.d. in instaneny co-author of "deadline artists." i was in d.c. this week and struck by there is one track going on of negotiations, the track you're seeing on television. not the smoke filled back rooms at this point. they're not there yet. usually i complain about the deals happening and the scenes. there is no behind the scenes and that scares me. >> and it should. look right now we are in the stage of public positional bargaining and both sides making opening bids that the other side dismisses as not serious. but, of course, this is serious. this is a self-inflicted crisis. and washington is playing fiscal with the fiscal cliff. -- playing chicken with the fiscal cliff. this deal will only get done by president obama and john boehner making a deal. they came close in the summer of
CNBC
Nov 29, 2012 9:00am EST
the fiscal cliff, which you just called serious business, or extending the lower tax rates and not the upper ones, which one would you choose? >> i'm going to do everything i can to avoid putting the american economy, the american people, through the fiasco of going over the fiscal cliff. >> which is worse, though, for the economy? >> what's that point of balance you just spoke about? could you put a debt limit increase in the overall package? >> as i told the president a couple weeks ago, there's a lot of things i've wanted in my life. but almost all of them had a price tag attached to them. and if we're going to talk about the debt limit in this, then we're probably -- there's going to be some price tag associated with it. >> last question. >> are you standing by your dollar for dollar -- >> i continue to believe that any increase in the debt limit has to be accompanied by spending reductions of that -- that meet or exceed it. >> thank you. >> with that, the happy talk azharry reid called it the other day is basically a thing of the past. speaker boehner saying he is disappointed in where
MSNBC
Dec 3, 2012 10:00pm PST
about the fiscal cliff. one person asked whether deductions for homeowners are at risk to which the president responded, breaks for middle class important for families and economy. if top rates don't go up, danger that middle class deductions get hit. signed "bo." yesterday house speaker john boehner said this on fox news. >> listen, nobody want to go over the cliff. that's why the day after the election i tried to speed this process up by making a concession to put revenues on the table. it's unfortunate that the white house has spent three weeks doing basically nothing. you know, the president's idea of a negotiation is, roll over and do what i ask. >> and on "meet the press" yesterday grover tried to change america's mind about who to blame if we do go off the cliff. >> tea party 2 is going to dwarf tea party one if obama pushes us off the cliff. let's not pretend who's pushing us off the cliff. >> but continuing to insist that the president does have the better argument. >> at the end of the day, president obama is selling a very simple message. i want to keep taxes low for
MSNBC
Dec 4, 2012 6:00am PST
, i think it hurts everybody politically if we go over the fiscal cliff. republicans will pay a larger price. it's about making sure they don't drive themselves off a middle class cliff by digging their heels into lower rates. actual hadly have lower rates for the wealthy than the wealt >> tripp, you work for a group -- you're saying, hey, we stand for principle but you're not there to win elections. you're there to win policy fights. >> right. >> the fact is, if republicans could be -- some concern is republicans pulling away from the vote. >> hopefully good policy makes good politics. in this case, if we can see the tax issue, that's not going to fix the problem. the drivers of the debt is spending but also is is entitlement and boehner punting, capitulated to the white house -- >> capitulation on the white house doesn't even -- >> that's a pretty -- >> well, we're all going to put our heads in the sand and say that entitlement are not the drivers of the deficit. >> you don't think he put enough detail on the entitlements? >> no. >> we'll ask him that when he comes back. our questio
MSNBC
Dec 4, 2012 8:00am PST
is bob casey who is moderating the hearing on the fiscal cliff next week. sir, i start with the comparison of the two plans so everyone can see this. the gop plan through closing loopholes and no deductions and rate hikes, as we pointed out as exposed under the democratic plan. the republican plan includes more entitlements through republican reform and then eligibility age being raised than the gop plan including changes of social security not addressed under the president's plan. so these plans, obviously, to the naked eye, they deliver greatly. no matter what con eggs sessions will be made on oert side, explain where you see the sensible center. >> first of all, that plan makes no sense because it forgets about and casts aside the most important focus we've got to bring to this, is what happens to middle income families. that's where the house should pass the legislation. we've already passed. give some certainty. get that part of the deal done. then we can have a debate about upper income folks. the idea that you have a bill in the house that will protect middle inc
MSNBC
Dec 4, 2012 1:00pm PST
. with the fiscal cliff three weeks away, it's absolutely crazy to be talking at that level of nonspecificity. and then, yes, you're right. you're talking about not just holding tax rates where they are, which wouldn't really work for high income people, but lowering tax rates and then making up your spending cuts by kicking the heck out of social insurance perhaps, medicare, medicaid, and social security. this is big time robin hood in reverse without any specifics at absolutely the worst time. >> professor peterson, grover norquist appears to think the president regards himself as a monarch preparing for coronation. take a listen to what he told my colleague, alex wagner, earlier today. >> and he thinks somebody made him king and he's going to have more taxes, more spending, and more regulations. it's a real problem for him. he doesn't have the mandate he thinks he does. so i think he takes us over the cliff because he doesn't -- he's got blinders on. he doesn't see where he stands in the universe. >> the president will take us over the cliff because he doesn't understand his place in the u
CNN
Nov 30, 2012 6:00am PST
year. of course, if the fiscal cliff does come to be and the economy slows or dips back into recession, things will really slow down. what automakers are doing is continuing to push the sales of smaller cars, which is what the public wants, because tgas prics are rising. sales of these types of vehicles do real well in places like california where people drive long distances and where a lot of people are very concerned about the environment and want to drive hybrid or electric vehicles. so even though they haven't been so strong throughout the rest of the country, companies like general motors continue to push ahead with these vehicles. here is their newest introduction, which will be on the market in 2014. only available for sale in california and in oregon initially. this is the chevy spark. it is an all electric vehicle that will get somewhere south of 100 miles on a full charge. what's really cool about this vehicle is you'll be able to charge it up to 80% capacity in just 20 minutes. that is a challenge, though, getting the rest of america outside of places like california to buy
MSNBC
Nov 29, 2012 11:00am PST
from the fiscal cliff. but i want to play what he had to say on the senate floor earlier today as well. take a listen. >> the only reason democrats are insisting on raising rates is because raising rates on the so-called rich is the holy grail of libberloo. their aim isn't job creation. they're interested in wealth destruction. >> wealth destruction, nancy. back to this wealth distribution thing and their whole narrative of punishing success. what role is mitch mcconnell going to serve in these negotiations at all? >> he'll play a very key role. although you really have to keep in mind the final deal is really going to be struck between president obama and speaker boehner. and those are really the two people to watch. and their staffs right now. of course, mitch mcconnell will play a key role in bringing around senate republicans, excuse me. but it's really between the house republicans and the white house at this point. you know, we have to watch and see what they do. i think there's a lot of public posturing. but i do think that all these people have been at this table before. they'r
Current
Dec 4, 2012 9:00am PST
, the sooner we can avoid the fiscal cliff. obama and his allies are less willing to look at these benefits programs after his election last month. >> yeah. >> stephanie: obama possesses far more leverage than he did in the budget talks with boner last year. here we go again, right. >> you act like you won or something. >> stephanie: okay. all right. rhone in chicago. >> caller: hi, stephanie. first time caller so i'm glad i get a chance to get in and talk with you. >> stephanie: okay. >> caller: so many things to talk about, but i wanted to talk about the extremism that i see in the republican party. for me i'm an infantry officer, a software engineer. i have gone from voting republican and i lose myself as moderate republican, and conservative democrat somewhere in that -- >> stephanie: in the nuggety center. >> caller: yeah. the way this election has gone it has turned me very much to the left. the way the republicans have acted, they are turned me off from their party all together. >> stephanie: we welcome you into the soft cocoon of socialism. [♪ mysterious music
CNN
Dec 5, 2012 6:00am PST
and the alternative is that at the end of the year if we go off the fiscal cliff, they really believe that republicans will get the blame. so that's why maybe they are sort of running out the clock a little bit making it harder for republicans to negotiate more at the end of the day. >> so just to make it clear, because the republican plan does not include a tax increase, a tax increase on the wealthy, the president isn't going to deal? he's not going to get on the phone with john boehner, he's not going to do anything? >> reporter: well, it's hard to imagine at some point that they are not going to get on the phone, that they are not going to have real negotiations. but right now, they are not. and so that's why the house republican leadership says they are just sending their members home. and they also say, the speaker didn't mention it here but one thing they want their members to do back in their districts is to try to galvanize the public's support for their position that the president is trying to do for his position as he campaigns on that. but you're exactly right and it's important to undersc
CNBC
Dec 4, 2012 12:00pm EST
're going to get a resolution to the fiscal cliff. i just think it's going to come after we go over. so that's not unlike -- >> we agree. >> the idea there is actually republicans can claim a tax decrease. that is you can take the rate down from 39.6% to 38% or 37%, something like that. the president gets what he wants, which is higher rates. the republicans can claim victory as well because they're lower than they would have been otherwise. >> tony, let's assume we do, in fact, go over the cliff. as both you and jerrod suggest that we likely will. the market will likely go down and go down hard. a new poll suggested if we do go over the cliff that republicans are going to be the ones who are going to be blamed. how will we deal with that with the market being held hostage by these negotiations which seemingly, at least in public, are going nowhere? >> first of all, i think the markets might be better to listen to me and jerrod rather than whoever is telling them this could absolutely get done and the republicans will cave and that's just what's going to happen. i mean, they should listen to
CNBC
Nov 30, 2012 12:00pm EST
to the house speaker comment. there he is leaving the room. comment on the fiscal cliff. headline -- john boehner calling the white house's most recent offer not a serious proposal reiterating the fact that is he willing to put revenues on the table but not through a raise in the tax rates, by closing loopholes. he wants lower tax rates. reiterating the republican position there. harold ford jr., the former democratic congressman, also doug holtz-eakin is the former congressional budget office director. keith banks is here with us as well. harold, your reaction to what the house speaker says here? certainly doesn't seem, if you listen to either the president or the speaker, that we're any closer to a deal. >> i was encouraged by the speaker's remarks. he didn't put his foot down and say no adamantly or irretrievably to anything. whether asked specifically if rate increases were something he could support, he suggested that there were other means and other ways to achieve new revenue. a lot of ways i thought it was a measured response and we live to fight. those of us who would like to see
CNBC
Dec 5, 2012 6:00am EST
, maybe we'd be okay with the fiscal cliff. he says that is the best deal for everyone, the best deal for progressives, just to do it. to go back to the clinton era rates. you get rid of three quarters of the deficit just on tax increases at that point. >> and he says you get defense cuts. >> you can't get defense cuts any other way. and he's not the only one. there's a lot of people on the left and there's quite a few people on the right. i'm glad you're optimistic and a lot of ceos and guys in your position -- if you run a company, you don't need consumers petrified and business people petrified. this is the last thing we need if you run a company. i understand you have a horse in the game. >> but you also have the double trigger. if you go over the cliff, we've got the debt ceiling fight right afterwards. it's not like that's six months down the line. that's in if first month, six weeks of the new year. >> the other thing, depending on where you stand, the idea that we just get rid of congressional approval of the debt ceiling at all, which is that ludicrous proposal that was in th
CNN
Dec 3, 2012 11:00am PST
without the tax rates going back up. >> nobody wants to go over the cliff. that's why the day after the election i tried to speed this process up by making the concession to put revenues on the table. and it is unfortunate that the white house spent three weeks doing basically nothing. >> now, the republican counterproposal that we just heard about still includes those bush era tax cuts staying in place for everybody, which president obama has called a nonstarter. so what if we raised taxes a little bit? still be much lower than what americans paid just a generation ago. in 1980, the wealthiest americans paid a marginal tax rate of 70% of their income to uncle sam. now, tax reform under president reagan reduced that rate to 50% and in 1981, and closer to current levels in 1986. today, president obama wants to let the bush era tax cuts expire for wealthy americans only, taking up their marginal federal tax rate from 36% to 39.6%. we're talking about a 3.6 percentage point uptick for households making more than $250,000 a year, only on every dollar they make above the $250,000 amount.
CNN
Dec 4, 2012 6:00am PST
to go off the fiscal cliff. and the reality is we have to look over the last two years. the republican party established themselves as the party that was willing to let americans entire credit rating go down the tubes in order to stop barack obama last year. it's very clear that most people are going to see them as being the party that's being more obstinate. the truth of the matter is they also because they lost so badly in the election, nobody wants to be seen playing footsie with barack obama under the table which is what they're going to have to do to get this deal done. the republican party is going tond up being blamed which is one of the reasons they will have to compromise more. it's the same thing the democrats did when bush won. you have to compromise with the party that just won. jason johnson, john brabender, thank you thank you both. >>> the new york film critics have made their choices for top films and many times they end up as oscar favorites. all the details next. all the details next. we are gathered here today to celebrate the union of tim and laura. it's amazing how
CNBC
Nov 30, 2012 9:00am EST
this "fiscal cliff." this political theater, if you don't allow these tax cuts to expire on the rich, the 1%, it's .25% coming off of gdp. you are losing a quarter percentage point. granted gdp numbers were better than we thought they would be. you are still losing a quarter percent if you let these tax cuts expire. it's an odd thing when we're so fragile on growth. >> let me take you to the trading element. what's happening is you get continued announcement of special dividends. you have been buying stocks on that basis. talk me through where you are now on perhaps what people may buy moving forward. >> it's a process that you really want to take into effect. it's got to be a company that you think is going to have some growth going forward. i bought winn. based on the company's fundamentals and then also for the kicker, the special dividend. that's something that i played. i also bought costco because i like the company's underlying fundamentals and a kicker for the special dividend there. you must like the company. >> that's important. the stock as it goes ex-dividend as we saw with choi
CNBC
Dec 3, 2012 9:00am EST
on u.s. states. we have a look at which ones face the biggest threat from the fiscal cliff. >>> later, if you own a car but never drive it, you might be able to make some money off it. ashton kutcher and marissa mayer are backing the start up. the ceo of get-around is coming up. gecko (clearing throat) thank you, mr. speaker, uh, members of congress. in celebration of over 75 years of our government employees insurance company, or geico...as most of you know members it.congress. ...i propose savings for everyone! i'm talking hundreds here... and furthermore.. newscaster:breaking news. the gecko is demanding free pudding. and political parties that are actual parties!? with cake! and presents! ah, that was good. too bad nobody could hear me. geico. fifteen minutes could save you fifteen percent or more on car insurance. or that printing in color had to cost a fortune. nobody said an all-in-one had to be bulky. or that you had to print from your desk. at least, nobody said it to us. introducing the business smart inkjet all-in-one series from brother. easy to use. it's the ultimate comb
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